EUR/USD

STRATEGY

As long as 1.27 USD continues to be a resistance, the movement may join 1.2 USD over the short term. The surpassing of 1.27 USD would invalidate this opinion and open the door for 1.29 USD.

SUMMARY

The MACD is positive but lower than its signal line. The dynamic in progress has been interrupted. If the MACD were to turn negative, the price correction could continue. The RSI value is less than 50: this confirms the weakness of prices. The Stochastics indicators are not giving any clear signals for the coming days. The volumes traded are more than the average volumes over the last 10 days.

MOVEMENTS AND LEVELS

After a recent high at 1.25 USD the cross corrected towards the 50-day moving average 1.22: the price reaction on this level allows us to envisage a continuation of this movement in the medium term. The first buy points (or short-term supports) are at 1.2 USD and 1.19 USD. The resistances are at 1.26 USD and 1.27 USD.